Hello Steemit Community!
This post is inserted in the new created series Introducing: Crypto For The Day blog post series , you can follow all the post in the tag #cryptofortheday
I wrote a post about countries interested in the blockchain technology: #5 Crypto For The Day - Countries creating their own Cryptocurrency and i just saw this news: 100%: Dubai Will Put Entire Land Registry on a Blockchain.
Dubai is adopting blockchain technology, first signs a deal to create digital currency emCash and now they are putting the entire land registry on a blockchain, well done Dubai.
The Dubai Land Department (DLD) has laid claim to “becoming the world’s first government entity to adopt Blockchain technology.”
Indeed they are the first confirming 100% they are using blockchain to store data, their Land Department is now processing, storing and implementing all transactions on a blockchain, their goal is to have all the properties recorded within 2-3 years.
DLD has created the blockchain system using a smart and secure database that records all real estate contracts, including lease registrations, and links them with the Dubai Electricity & water Authority (DEWA), the telecommunications system and various property related bills. Blockchain’s secure, electronic real estate platform incorporates personal tenant databases, including Emirates Identity Cards and the validity of residency visas, and allows tenants to make payments electronically without the need to write cheques or print any papers. The entire process can be completed electronically within a few minutes at any time and from anywhere in the world, removing the need to visit any government entity.
This is gonna be like a test of the technology and his application on a city. DLD director general Butti bin Mejren added:
This initiative is still in a stage of infancy. In the near future, we will see many partners joining [the] Blockchain to improve their client services, including banking, mortgages, and utilities and maintenance operations…Our aim is to unite all real estate and department services on a single platform.
Meanwhile, Japan is also planning to do this, unifying all the property and land registers on a blockchain by the year of 2023.
What you think about this?
News Source
100%: Dubai Will Put Entire Land Registry on a Blockchain
